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Trump Presidency Could Bode Well For Pharma, Devicemakers

Drug and device makers welcomed the results of a general election expected to significantly impact their industry, even though the president-elect's stances are sometimes at odds with their own.

Throughout his campaign, Republican Donald Trump stressed the need to curb rising drug prices and vowed to repeal the controversial 2.3% medical-device tax that was enacted in 2010 under the Affordable Care Act. He has spoken less about changes to the Food and Drug Administration's approval processes, but a law similar to the 21st Century Cures Act intended to speed up approvals is more likely to pass under a Republican-controlled Congress and White House.